etf during u.s. hours. relative to the qqq, the u.s. tech focused stocks, usually you see u.s.tperforming chinese tech when you get these trade headlines that have been going on. that has not been the case actually. the opposite has been happening. i'm trying to find the terminal here if you bear with me. you can see in the last two days, if you come into my terminal, the chinese tech stocks have been outperforming. what we hear is the tariffs today have been one-sided focused. china had retaliated. we don't know the impact yet on the american companies. we are worried that china could hit some of these individual tech companies harder. china'seast for now, tech companies have been outperforming which is a very interesting phenomenon and not something we typically see. there has been a lot of concern within the chipmakers, the boom and bust cycle where you are excited about 5g. and then we have these trade headlines and then you get nervous all over again. emily: casts doubt on something we have been hearing that no one wins in a trade war. you have been looking closely at semi

and the u.s. you know the reason processing takes wherever but it's also important to know that one for a lot of the students when they're inside because of those processing times they actually are stuck in the us sometimes for you know durations of their entire duration of study which is you know 56 years and so the opposite also applies that there are isolated you know from you know friends and families and and also having basically access to you know what we call back home basically yeah so they start to stay here for long durations of time if there are conferences now outside of the u.s. . they actually cannot attend either so it kind of goes both ways. you know either both coming in or leaving is a problem or for a large group of students and i think the extent that is the problem i think is different for different groups of students from different countries so you kind of get this you know a caste system where there is a different group so students. having to adhere to you know more and more

u.s. truck income is paid u.s.-based drivers more than $3.25 billion in wages plus health insurance and retirement plans in 2018. simply put, trade is crucial for the blue-collar workers and the trucking industry. failing to pass usmca would have negative impact on truck drivers along with the customers we serve across north america. manufacturers can farmers, retailers and consumers. the american trucking associations were under the board alliance and trucking industry urges congress to ask with and support ratification of usmca. we stand ready to help drive this agreement across the finish line. thank you again for the opportunity to testify today and i'm happy to answer your questions. >> secretary vilsack, thank you for coming. >> thank you, mr. chairman. senator wyden and members of the committee i want to express my appreciation for the opportunity to appear today. this is a meeting and hearing that is important to 110 members of the u.s. dairy export council as was the 39,000 family farm operations that prov

u.s. and china. a chinese foreign ministry spokesman said he was unaware of any calls with the u.s.. this is echoed by the global times. enda curran has more. what actually happened? enda: i think that's what everyone is trying to figure out. we have had a day of conflicting signals. the foreign ministry in beijing were not able to immediately confirm the phone calls president trump referred to. the editor of "the global times," an important mouthpiece for the communist party, made the point that whatever calls did take place weren't at the level of significance president trump hinted they were. we know that the talks scheduled for september are still meant to take place. there's a lot of confusion about whether or not there has been an olive branch offered by either side and all of this, but i think the take away probably came from president trump's remarks that he sees prospects for a deal being better than they have been for some time. we have commentary from vice that made ite clear ch

u.s. foreign policy shifts now to southeast asia. after world war ii, western powers hope to stop the spread of communism, to vietnam. by fostering anti-communist governments in the region, and his book arc of containment, wen-qing ngoei argues the outcome of the war, the u.s. was largely successful in its overall regional strategy. the wilson center, in washington dc, hosted this discussion. it is about 90 minutes. >> okay everyone. i would like to call us all to order. good afternoon and welcome to this afternoon's session of the washington history seminar. historical perspective on international and national affairs. my name is eric, of george washington university, and i am the cochair of the seminar, along with christian f. ostermann who represents the wilson center. as you may see, we have c-span taping here today, so we would like to welcome those of you who are watching on your computers or on your television screens, and suggest that you visit our website to learn more about the s

than outside the u.s. and even if that's not quite true one of the things that we think is that it's easier to commercialize science and engineering innovation in the u.s. so that for those fields what happens in the u.s. is very important because it may make sense to bring people to the us rather than letting them work in their own countries but of course in social sciences. it's very much true that different people have different experiences and different points of view different approaches often with studying specifically certain regions in the work a lot of the work should be done in those regions even engineering though some people would argue that the engineering problems to be addressed to different in different countries it's really only pure science that can exist but independently of the country so even with engineering there is an advantage to. to having people from different places and working in the places certainly spending long long stretches of time ok. but to cram is point i now i want to

and the u.s. after meeting with u.s. president donald trump rob is on a 3 day visit to north america. campaigners say leaving the european union will allow britain to sign its own by lateral trade deals with other countries the e.u. is the u.k.'s biggest trading partner. courier service fed ex is ending its deal for ground deliveries with e-commerce giant amazon fed ex is allowing its contract with the online retailer to expire at the end of the month amazon is building its own cargo hub in kentucky analysts say the tech giant could be planning to build its own delivery service making it a potential competitor to fed ex fed ex says amazon only accounted for a little over one percent of its revenue. and as a way lad has accused the u.s. of economic terrorism and of trying to torpedo peace talks after the trump administration ordered a freeze on the country's u.s. based assets under the sweeping measures any foreign entity doing business with the government of venezuela could face u.s. sanctions. in caracas the chemo to fi

ten-year u.s. treasury is 1.58 we rallied more than ten basis points yesterday that was the cattalyst for the yield inversion. the ten-year bund, all-time record lows. every day we come in and talk about record lows in the bund. yesterday again yesterday, another record low for those of you out there, it might be worth plotting, if you can, the chart of the ten-year bund versus the european banks index. strong correlation as yields keep moving lower, banks are underperforming in europe so this is the picture the ten-year gilt, 45 basis points we talked about the u.s. yield curve inversion twos and tens in the u.s., you can see that chart in front of you. we tipped slightly negative in intraday we got below zero and are trading around there now historically that's been a good indicator for an upcoming recession. though i would just say couple of words of caution. causation is not necessarily -- correlation is not necessarily causation. and number two, look at how long the period of inversion lasts f

u.s. president donald trump has canceled a trip to poland as hurrican dorian approaches florida residents are stocking up on sandbags food and fuel supplies the governor has declared a state of emergency the storm could hit florida late on saturday. brazil's president jaya polson r.-o. has signed a decree banning burning in the amazon rain forest for the next 60 days the pro-business right wing leader has come under mounting international pressure to put out raging fires many was started by farmers clearing land. brad pitt has electrified the venice film festival with a blast of star power. it took to the red carpet to launch his new film space epic at astra he plays an astronaut on a life saving mission costars ruth nikka and liv tyler also turned out to promote the movie. economic growth in the united states is slowing further the commerce department revise a 2nd quarter figures down words and investment has also led again but u.s. and consumers are hanging in there also coming up by bla

if the u.s.nomy shifts further, it is the real change we are going to face with and it will drive investors more into liquid assets, gold, etc. until there is resolution. now we are learning this resolution has become very abandoned in the sense that it takes a lot of time to get to this real deal even though there could be agricultural process this -- agricultural purchases happening in between. so it is a conservative stance. paul: we talked about the fed and trade, but another big piece of the puzzle is hurting's. how do you see earnings season playing into this so far? expectations weren't terribly high. ben: they were not high. it was a year on year factor after the tax reform last year in the third-quarter markets with a sense that earnings slowed down this year. there have been some surprises though, performing better than people thought. going forward from here the big question remains is how the global economy fares after this latest development because if they have factored in the rebou

the u.s.'s max pressure campaign, to get iran to set down for a bigger and better deal, has kept both sides of the atlantic divided. the u.s. with a more pressure driven policy, the europeans trying to keep the jcpoa deal, the 2015 deal. this has created tension, but there are other issues to this cost as well, energy and the environment. the all know this used to be the g8 summit, which had russia involved, and russia and iran and other rogue late -- states will likely be on for discussion. host: why is that these other countries would like to stick to this nuclear agreement made under the obama administration versus what the trump administration would like to do? why are they insisting that continue? guest: there are three key reasons. it would be a mistake to say just one. but the biggest one is commercial relations -- or trade, you could say. the european union has always had an interest in trading with iran, thinking that you could trade with iran and that would moderate their paper over t

on the u.s. side was going to be limited resumption of business with huawei and on the chinese it was going to be resumption of agricultural purchases. in the past week we have seen both of those be taken away. that is not a good sign. we have talks in september that are scheduled. big questions over whether they will go ahead. still had, as we review the week on bloomberg best, legendary investor howard marks shares his thoughts during a wild week for global markets. plus, former u.s. treasury secretary larry summers weighs in on the risks of currency wars. up next, more the weeks top business headlines with >> business reports. >>with the debt they have with the stock price where it is, it will be to go to do another dear bill -- another d.l.. this is bloomberg. ♪ haslinda: this is bloomberg best. let's continue our global tour of the week's top business stories with a deep dive into a flood of earnings reports. among several european banks releasing results. they surprised with an executive sh

u.s. 30 year yields flirt with all-time lows as pimco says yields could go negative. charles evans says there could be more easing. bounces from a seven-month low as the kingdom calls producers to discuss a response to the slide in prices. spots, traderight tensions and the impact of the restructuring makes this a big results call. the ceo joins us this hour. the performance of its stateside business will be watched as if he does numbers hit we will be joined by the ceo for the details. welcome to "bloomberg daybreak: europe." let's get to the numbers on the bloomberg. the red headline is the group is cutting its profit forecast and considering selling units. that is something we will look at later. to 1.2 billion euros but it is cutting its studyingrecast and offers to sell some businesses, cutting the profit outlook for the fiscal year. germany's slowdown pushing thyssenkrupp into a crisis. the units with no clear future can't keep burning money. it is studying options to sell businesses

censured by the u.s. government that there was a busy possibility that the foreign ministers would be created that there was decision was put on hold by the u.s. government and we had thought that the decision was that we considered that now it appears that is not to chase the foreign minister in south was at a cabinet meeting earlier on wednesday we talked about how the u.s. policies affected the nuclear agreement now what we're hearing is that the one of the things made was that the reason is not considered a decision encouraged significant decision maker in the islamic republic that is in fact the office that he is considered to be a favorite. diplomat with the highest authority in iran the supreme leader over and over again surprising that i probably have stated how thankful he is been for the efforts of the foreign ministry and the foreign minister in the signing of the nuclear cream and the efforts that have been named by that department let sideline the job serif the negotiations that came to the a

also the u.s. military presence in germany has been a constant for 70 years now but the dramatic and are threatening to move to poland our special report looks at what that could mean for the biggest u.s. base in germany ramstein. hello i'm terry martin good to have you with us britain's prime minister boris johnson has won approval by queen elizabeth to suspend parliament it will be closed for 5 weeks in september and october just before the u.k. is scheduled to leave the european union johnson says he needs the time to pursue his domestic agenda but opponents are calling the move undemocratic and over 1000000 people have already signed an online petition against it. it dropped like a bombshell in a letter to m.p.'s boris johnson explained that he wanted to suspend parliament until just 2 weeks before the u.k. is set to leave the e.u. that severely limits the time opponents would need to try to stop regs it johnson denies it's a clever move to silence them there will be ample time on both sides of

the u.s. house of representatives will gavilan shortly for what's expected to be a short pro forma session, starting at 12:30. we will have live coverage when they gather will -- they gamble in. while we wait, a conversation on the current business climate in china with the trade tensions over tariffs. the u.s. china business council is the host of this event. >> good morning ladies and gentlemen. if you will kindly take your seats. latecomers will be accommodated. there are handovers over on the right you will want to have with you or take away with you. please help yourself to some coffee. welcome to use china business council. this is a press conference talking about our annual member survey, and it will be done in three parts. the first part i will introduce our president craig allen, and then after that our senior vice president jake parker will walk you through some of the highlights of the survey and then we will open it to questions. so at this point it's my pleasure to introduce you t

and u.s. security simply has a different concern as american border forces are more focused on drugs coming in then weapons going out traffickers have adapted their business model. official data about trafficking is hard to come by but some u.s. gun sellers have come to attention such as this store chain called academies. it keeps coming up as a purchasing point of weapons that have been trafficked to mexico u.s. agencies are limited by law as to what data they can publish but in 2011 a spreadsheet was leaked was thousands of gun traces and academy sports features very prominently academy schools comes up a nearly 100 traces some link to weapons recovered from the. now because the data is a bit old also conservation court documents and academy sports has come up again as a place where u.s. agencies have mounted an undercover investigation into the illegal sale of firearms . academy didn't respond to our interview requests but has denied any wrongdoing in previous statements adding that they ha

the u.s. president wants to buy greenland. vonnie: financials had a bit of a tough time as rates have started to come down, and again 1.50% at10 year below one point, you know banks are watching this. the s&p financials index is up 9/10 of 1%, rebounding from a tough week. you've got to be expecting that ceos and boards across the nation are thinking about where the fed is going, what's happening with rates, what's happening with the global economy, and whether they should be expanding, contracting, or just expanding revenue as they can. for insight from one of the biggest banks in the nation, let's get to david westin for an exclusive interview. david: for bloomberg television and radio, i'm david westin, sitting here with brian moynihan, chairman and ceo of bank of america. thank you for having us. brian: great to see you again, david. the team is working hard out there, even in mid-august. david: the question has to be this week, what is going on with the bond market? there is some message

also the u.s. says new sanctions against venezuela will cut off financing for president nicolas maduro america has frozen all venezuelan government assets blocking u.s. companies and individuals from doing business with a ministration. the police chief has apologized in the u.s. state of texas after 2 white officers on horseback black handcuffed down a street by a rope galveston's police chief says his officers showed poor judgment. while staying with the u.s. the president has shrugged off fears of a protracted trade war with china he says investment is flooding into america that the economy is strong trump made the comments today after the u.s. treasury accused china of career. manipulation a white house correspondent can believe. a strong economic position that's the claim the trump white house made amid an intensifying trade war turned currency dispute between the united states and china america's job for business america is open for business it's been a week of back and forth between the world

u.s.. a wild, volatile session. the s&p 500 closed 25% higher .oming out -- .25% higher we see tensions between the u.s. and china not to mention fear over potential recession. we saw walmart, solid earnings boosting sentiment and also u.s. consumption numbers coming in pretty strong with the retail sales numbers jump in the most in four months. a it consecutive month of gains. fifth consecutive month of gains. that was not enough to hold the treasury rally. at one point, the 10 year yield fell below 1.5%. a three-year low. the 30 year yield falling to a record low below 2% for the first time ever. of course, we also got from the treasury department, we saw how attractive treasuries are. china added to his holdings $2.3 billion in the month of june but that was not enough to beat japan, which became the top holder for the first time in two years. the are scrutinizing china's holdings given the ongoing trade were between the u.s. and china. in the meantime, u.s. futures up .25% at the momen

the u.s. military shows how munitions and weapons are stored supplies for fighters in syria mali or afghanistan. paratroopers practice jumping fighter pilots set off from here on their missions to africa asia and the middle east. defending germany only plays a smaller role according to this expert and the u.s. and this is not really i'll give you such of course as a bit of protection but at the same time history teaching importance of ramstein for u.s. foreign policy and security policy not be underestimated. and it's not just the air base the biggest american military hospital outside continental united states is also nearby doctors and health care workers train here for emergencies and for working in a war zone wounded soldiers are brought here from all over the world. soon they will be relocating not to poland but closer to the airfield. a new hospital costing around a $1000000000.00 will be built more modern and better equipped. forest at the edge of the airbase has already been cleared. t

the u.s. has also invested a lot in modern warfare in recent years the air and space operations center is located at the airbase it's one of the u.s. military state. it is now an open secret that plays a central role in the u.s. drone strikes important information on targets are relayed to the u.s. via out on stein opponents of the base are unhappy about preparations for war are being made in germany for them a u.s. withdrawal would be a reason to celebrate. but most people disagree. grown together over the decades as seen at the. best. among the guests former and active members of the military. base will be relocated. point in your. forces and not only your middle east everything around. this place is going to stay here i will need to leave you have a good time only here. look carefully at the air base more than a 1000 buildings many of them underground the place for that reason they can't move at all to poland's. the trump administration's threats to relocate or something people cannot imagi

allies u.s. allies exactly exactly yelena had been investigating a plane they departed from riyadh put 5 days earlier which she believes carried weapons to the middle east. you can see tongue fight where there are the words that this plane took several times and you can see places such as r r ion in qatar exactly and also has flights number mark which is very specific for the planes that are actually transporting military goods. this is footage of the plane yellow not tracked it has been loaded with crates at least 20 u.s. military flights have left this airport in the past 6 months. and when we arrive at the airport we to see a plane. this is one of the busiest airports when it comes to playing such as this one. is from the same airline and i have been investigating various really is pretty nuts it's just in the middle of a traffic junction. there are weapons there are there problems. there is this huge fights that are happening in surrounding it all they need is there the. flight data proves th

the u.s. military shows how munitions and weapons are stored supplies for fighters in syria mali or afghanistan. paratroopers practice jumping fighter pilots set off from here on their missions to africa asia and the middle east. defending germany only plays a smaller role according to this expert on the us this is not. of course is a bit of protection but at the same time history teaching importance of ramstein for u.s. foreign policy and security policy to not be underestimated. and it's not just the air base the biggest american military hospital outside continental united states is also nearby doctors and health care workers train here for emergencies and for working in a war zone wounded soldiers are brought here from all over the world. very. soon they will be relocating not to poland but closer to the airfield. a new hospital costing around a $1000000000.00 will be built more modern and better equipped forest at the edge of the airbase has already been cleared. the mayor of the large in

next, u.s. south korea relations. in this portion, u.s. diplomatic and military officials themselves in caps off korea talks about the evolving nature of u.s. south korean alliance. >> congratulations on a really remarkable year. it's a great honor to be back here again with such a distinguished panel. i think people, this panel needs no real introduction but quickly got off the line. the most famous in history in terms of diplomacy. vincent brooks, the last commander, we were close at the pentagon, well done and getting us to that.neck. along distinguished career in the military, punctuate it by the head of all army forces in the pacific. several tours in iraq and the middle east. max, we are lucky to be graced with one of the preeminent historians analysts of the exercise of american foreign policy. we are really lucky to have him here. it's a prolific use of articles and books you have written which are claimed at the highest level. make you for being here. victor, we saw the accolades, welcome back to your home court. i'll get us under

and while the u.s.s with 33 nations to protect commercial shipping lanes, gulf oil exporters may find getting their crude to market in future could come at a cost. >> what's more critical for them that freedom of navigation is maintained through the strait of hormuz probably than it is for us so, i think that they see us as a reassuring presence here in their region >> it's a pretty fascinating conversation that has been going on, as you know, brian, over the last several months in particular just basically what are the u.s. responsibilities to the persian gulf at this point when you have so much of the supply of cruel of oil that transits going to asian markets, other markets no longer the united states. is there going to be a military commitment we'll see from other countries particularly here in the gulf countries, saudi arabia, uae, or people ponying up when it come tots the cash. now the president is questioning the u.s. mission here. >> any indication of how long the u.s. navy is planning to do th

pivot towards the u.s. they're going to see. more of the u.s. than his european neighbors and they're going to start seeing a much more aggressive. level of posturing from boris johnson who will be in the company of trump and who will almost be egging him on to start behaving in a way that's more u.s. friendly than you friendly iran is just one of an increasing number of global issues whether 7 leaders are likely to have very difficult discussions the french president has already taken the unprecedented step of deciding not to seek a final communique at the end of the summit because he knows there are no words that will be able to sign up to a number of other countries have been invited to this year's g. 7 prime minister narendra modi of india will be attending and the growing tension between his country and pakistan over kashmir is bound to be discussed growing trade wars are also leading to fresh rifts the u.s. and china's difficulties could further destabilize the global economy and here in france the new digital services tax which targets bi

the decline of u.s. exports by 18% to china has been felt by american farmers, workers, ranchers here it doesn't help the u.s. economy. and we are concerned about the inflationary impact of additional terrorist, particularly come in on consumer products. and so there is no doubt that the trade friction is having an impact on the american economy, and that, in fact, is not a positive impact. >> i just want to follow up on earlier discussion about new tariffs. since june have you been also talking with your member companies about whether they have further, you know, they have even lower -- future and growing sense of uncertainty? secondly, so you talked about there is growing number of people who have companies who are shifting their supply chains out of china and also the laying or stop making investment in china. have you seen that as candid like a permanent decision, or do you see them, might change their mind if the situation improves? thanks. >> let me maybe address the second question. what we're see

tuffy u.s. the u.s. says tough new sanctions will choke off financing for venezuela's president washington has frozen venezuelan government assets blocking all u.s. companies and individuals from doing business with president nicolas maduro is administration and its supporters us that u.s. national security adviser john bolton has warned the sanctions will be imposed on anyone who supports caracas president trump has taken a very strong move here imposing these sweeping sanctions putting a full bloc of full freeze on all assets of all parts of the government of venezuela in the u.s. and also imposing sanctions or setting the. situation to impose sanctions on any person or business that goes significant business with the government of venezuela so this goes well beyond anything we've done before and it really is a very strong move by the president u.s. president donald trump as this miss concerns over a long trade war with china saying the american economy is strong on monday the u.s. accused china of bei

u.s. companies are now supposed to already be banned from doing business with chinese tech supplier while way but the u.s. is commerce department has again given wall way in 90 days face its 2nd one in a row the movie about odds with the u.s. president donald trump's harsher messaging towards the company leaving many unsure of what to expect when the current reprieve and the november. when the u.s. spawn on one way it was announced 3 months ago it was a big deal for the likes of google as it meant it wouldn't be able to sell updates of its droid software to while away phones many other u.s. companies such as the chip makers qualcomm and broadcom would also be affected. but over the weekend speculation grew that the u.s. would postpone the ban on monday u.s. commerce secretary wilbur ross confirmed news of the 90 day reprieve saying it was to help u.s. companies prepare farther for a time when there would not need while with some of the rural companies or dependent in more ways we move turn

the u.s. and russia abandon a key cold war treaty on nuclear weapons and nato sounds a note of caution. >> we will not mirror what russia does. we donon't w want a new arms ra. anchor: each side pointnting fingngers at the other for endig the medium range millions agreement, both calling for restrain straint. also on the program, where's the beef? president trump and the european union sign a deal to above the u.s. beef exports to the e.u., a small item on trump's long list of issues with the european union but might win him votes from farmers. and new laws allow saudi women to go abroad without the consent of a male relative. the move is a game changer that takes effect at the end of the month. welcome to the program. the west does not want a new global arms race, at least according to nato secretary general stoltenberg. he was responding to the collapse of a landmark nuclear weapons treaty dating back to the cold war era. the ending of the intermediate-range nuclear forces, agreement, or i.n

the u.s. and china were actually talking. said he hopes he will get a good deal. nonetheless, the chinese decided not to retaliate immediately. asian stocks rising. euro stoxx futures rising as well. i put the japanese here is a little bit of a warning sign ahead of today's trade. you have the bloomberg dollar index up. the dollar is holding at a two-year high. traders are buying yen as a safe haven hedge, even after the bank of japan did not change its bond purchases. you saw jgb's fall. you still have the strength of the yen. nejra: often, when you ask people what they're haven of choice is, they go to the yen over the dollar. in terms of u.s. futures, we are seeing a lift, nothing too aggressive. it looks like we are heading for a weekly gain for u.s. equities. the dow could go above its 100 day moving average. the 10 year yield backs up slightly. the 38 yield has been a big focus as well. we hit a record low of 190 this week. that stays below 2% at the moment. there is the dollar you were

the u.s. said this is not fair. u.s.anies said you are specifically going after american companies. it was mostly american companies. the u.s. trade representative opened up an investigation to this. trump threatened to put tariffs on french wine. today, what france agreed to his they said they will negotiate the global negotiations going on. 130 countries who are looking at basically reallocating taxing rights. which countries have the right to tax which profits. france said we will join the negotiations, and if there is a global deal, they will take away their tax and reimburse all the companies who have paid it. they have not agreed right now to repeal the tax entirely, but they have an agreement in principle for a future date. taylor: what companies benefit the most? i know in the u.s., we talk about google, facebook, but also a lot of chinese, other international companies as well. who are the big ones really benefiting from this today? laura: it is google, facebook, amazon. also, smaller companies that are operatin

the u.s. drug war and how it relates to prohibition in the legalization of cannabis and how that impacts consumer access to this particular substance. >> i've been doing research on the drug war and cannabis for the last two decades, so you get to join us today on hours tour of the last 100 years of drug policy. alexa remember yesterday we talked a little bit about the impact of culture and science on the approach to medicine and conceptualizing what is an acceptable substance for medical consumption and what marks the substances that are different from medicine. so, today we will try to see how the very ideas actually impact the laws that govern our access to substances. so, we will start at just over a century ago with the pure food and drugs act of 1906. this is something that impacts us into the present and really helps to control access to a whole range of substances. so, the lie itself is focused on consumer protection. we don't want the american public to have access to substances that

it is not just u.s. trade tension but globally, japan, south korea. u.s. versus europe.some concern the central-bank mission is getting less and less. global central banks are starting to disappoint. fromn see the reaction markets. to beat market expectations. >> what do expect from the u.s. jobs number and how important is it? expect continual solid job growth. north of 150,000 jobs created. i think it is important jobs report that it is being overshadowed by the trade escalation. we think it is a very strong number. would be probably disappointed. they may look for weaker data. it will be watched closely. the trade tension is going to dominate. , gotu studied economics your mba at cambridge. most interestingly to me, you have a certificate in econometrics. when you look at the inflation numbers, the unemployment figures, the growth, what is your assessment of the strength? the solid strength of the u.s. economy? u.s. economy is pretty solid at the moment. numbers 4%. out isent data coming all very strong. that is the biggest part of the u.s. economy. we think the near-

u.s., we had a big delta, 1.8%. s&p down 1% by the end of the session. wow -- you take it away, david. david: jay powell confusing everyone. you can see on the intraday charts -- rishaad: midcycle adjustment. yvonne: that was a red flag for investors. david: we will ask a morgan stanley economist what that means. rishaad: i thought we were at the end of the cycle, but midcycle. yvonne: he said we are not one and done. what does that mean? butre seeing a bit of red, a sign of a turnaround in some of these markets. rishaad: the nikkei up 1/10 of 1%. the hang seng moving a little bit south. we see a slight bit of positivity coming through, accentuating the fact that it is ultimately cut, although that was priced in. the story of the day is on the fx markets. you can see the dollar index moving to the upside. most of that is down to the weakness of sterling. it does look as though volatility is creeping up and spiking further and further. that is implied volatility in the white line. six-month

the u.s. tough new sanctions will cut off funding for venezuela's president the u.s. is frozen but is waiving government asserts blocking all american companies and individuals from doing business with nicholas murderous government supporters trees a boat has more from caracas. long lines in front of the peruvian consulate in caracas most of those who come here are desperate to leave the country. is a retired engineer she has been waiting for months to get an appointment because she says she cannot continue living year. i have a pension of 40000 bolivar's that i can buy 2 kilos of cheese my son is in peru and i'm going to live with him but i cannot get their. stories like mario when years are frequent in venezuela these days as the country struggles with an economic crisis that has forced a millions out of the country for the united states and dozens of other countries worldwide who are meeting in lima peru to finish its political and economic change the united states and venezuela have histor

the u.s. on deploying more forces to the gulf. i will be telling you why we are here watching these incredible animals. anchor: argentina's currency has collapsed after the president's defeat in the presidential primary. it fell by more than 30% against the dollar, but has since partially recovered by 15 points. the other candidate came in more than 15% in the vote. they have vowed to reverse a result. >> unfortunately, today we had a very bad day. very bad. we are poorer today than before what happened. we are going through a very strong impact. anchor: we have more from buenos aires. reporter: after a day of emergency meetings with the central bank chief and the cabinet, the president spoke to the nation, appealing to the electorate to give him more time to implement the policies that he has been pushing for the last 3.5 years. policies he said will get argentina back on the economic track. these are policies that the electorate rejected in the primaries by more than 15%. they are pushing th

the u.s. government is building new detention centers to hold asylum seekers crossing the border from mexico the government says new arrivals are well cared for but several children are among migrants who've died in custody jocasta reports from el paso texas which is on the front line of donald trump's heavily criticized immigration policy. across from an el paso shopping plaza down a suburban street is a detention center for migrants this is now part of life along the u.s. mexican border that which is warm allies is not protest against that which is normalized simply because it becomes an omnipresent the number of people who've been captured or turned themselves into the u.s. border patrol has trucked for more than 100008 month 272000 in july in el paso that's still 6 times higher than a year ago over the summer the government was criticized for keeping people under bridges and in overcrowded facilities but with emergency money from congress new detention centers are now being built u.s. cust

stock markets closed u.s. president donald trump announced via twitter starting on october 1st the $250000000000.00 of goods and products from china currently being taxed at 25 percent will be taxed at 30 percent additionally the remaining $300000000000.00 of goods and products from china that was being taxed from september 1st at 10 percent will now be taxed at 15 percent this was trump's retaliation after beijing announced a few hours earlier that china will tax an additional $75000000000.00 worth of u.s. goods also starting next month that came at the end of an already tumultuous day earlier friday the u.s. president tweeted and order to american businesses move supply chains out of china immediately trump does not in fact have the power to command u.s. businesses to leave china but he does have leverage he can encourage them he cannot give them government contracts for example that if they're buying things from the government or strine a sell things through the government but no he can't he can't stop the

more pain for u.s. farmers. china is stepping away from further u.s. agricultural imports.ore on that next. this is bloomberg. ♪ vonnie: and this is "bloomberg markets." i'm vonnie quinn. yuan plunging today. the other big news is on the agricultural front. china has asked state owned enterprises to suspend purchases of agricultural products. so where does this leave the american farmer and what about commodity prices? corn, those are just some of the agricultural commodities impacted. what should we look to for direction on this? >> we are going to have to look for where the trade talks go. any resumption of chinese purchases in the u.s. will depend on how trade talks progress. there was a lot of hope in the market that with the tops having resumed last week, we would see agriculturals of commodities like ethanol, sore gum, more soybeans. the talks suddenly soured. the talks suddenly soured. trump announced on thursday more tariffs on china. as a result, we see china acted back. looking at prices, we have seen soybeans, hogs, today. prices have recovered a little bit. ther

a deal for the u.s. to export more beef to the e.u. so does it help american farmers call the u.s. trade dispute with china and put it ease trumps animist for brussels. also on the show an escalation in the train route between japan and south korea we'll tell you why seoul is fuming. and what can a 2000000 euro real estate investment in cyprus buy you other than some nice digs tell you. this is your business report i'm stephen bears in berlin thanks for joining us u.s. president donald trump has signed an agreement with the e.u. to increase american beef exports into the bloc it's a rare bit of positive trade news from a president who hopes to extract even wider concessions from europeans later this year and it comes one day after the president announced new tariffs on china a move expected to hit american consumers hard and prolong a trade dispute that has been especially painful for american farmers. after german cars and french wine u.s. president almost trumps most recent beef with the european union was with well before the u.s. had long found it hard to export its meat across

the u.s. consumer is going to have to -- it is going to be hard for the u.s. consumer to prop up what is going on in the rest of the world. you look at some of the sectors that got us to this point of the last couple of days, that rebound we had on tuesday and the reversal wednesday, which was impressive, but we are talking about consumer staples, defensive. vistas, thesed aren't going to lead us to the promised land. you need participation from the big players, and right now you aren't seeing the big players in there. it just isn't all there. you are seeing people willing to come in and buy this dip, but they are not buying the growth stocks we saw in previous bounces. we are seeing the move back into defensive positions. you are still seeing a lot of volatility in the treasury market, the highest level since summer 2016. yields still seeing bouncing off that 1.6 level. still seeing a lot of buying coming into u.s. treasury. guy: what are people telling you? are they giving you any sense that we can find a flaw in that 10 year yield? what is going to stop it

well the u.s. president is also unhappy with germany at the moment for not spending enough on defense washington is putting pressure on the. in to meet the nato target of 2 percent of g.d.p. that is despite very germany revealing it spends hundreds of millions of euros just on u.s. troops stationed in the country germany's current expenditure is 1.4 percent that's about $47000000000.00 euros in comparison greece does and does meet the 2 percent target for athens that amounts to just fall 1000000000 euros peter oliver takes a closer look. it's been a refrain of u.s. politicians for quite a while now germany must spend more on its military under president trump that referring has turned into a crescendo you know you talk about germany i mean germany obviously is not paying their fair share do you think germany is doing enough to meet the 2 s on target you know. what should germany do they should meet the goals that they agreed to we have 52000 troops in germany. and germany is not living up to what t

u.s. attorney general william removes the acting director of prisons off the suicide of geoffrey epstein we discussed the conditions at the jail where epstein took his life with his former lawyer is fundamentally wrong with that is that. the u.s. confirms its 1st test of a cruise missile previously treaty signed between moscow and washington 3 decades ago. a more than a year of tensions in italy's ruling coalition have come to a head with. offering his resignation it's off to the country's interior minister called for a vote of no confidence once again leaves italy in deep political crisis. well that resignation over its lease prime minister said because they had been widely speculated for the last few days and now it's happened to force plunging italy into a fresh political crisis in his resignation speech on cheese the often he noticed a blistering attack on the deputy prime minister and interior minister matusow beanie over the leak basically accusing him of doing everything to profitee

markets real as the u.s. and china take it to another level. >> the currency is seen as a last resource. the world central banks accelerate their race to the bottom. are willing to go big. stumbles toward the next step on brexit, deal or no deal. >> if there is going to be a confidence vote, it has to be the first couple of days that parliament returns. sort throughs another barrage of earnings reports. the large numbers are catching up. >> we are calling get the star world's -- worse stumble. >> ultimately, china and the u.s. are aligned at the hit economically. >> i don't think the fed's job is to make sure there is never a recession. >> it is all straight ahead on bloomberg best. >> hello and welcome. this is bloomberg best. let's start with a day by day look at the top headlines. after donald trump announced new tariffs on china last week, beijing bowed to retaliate and the response sent shockwaves through global markets. >> stocks in the red this morning on the fears that the u.s.-china trade war -- an f